Trusts

Creating a family trust that will endure for generations is an ambition of many people who have amassed significant wealth. Under California law, however, there is a limit on how long an interest created by a trust can last. That limit is called the "rule against...

For some people in California, estate planning is very simple. The cornerstone of their estate plan is a simple will containing instructions as to how their assets should be distributed upon death. Combined with a durable power of attorney to provide some protection...

Under California law, a trustee has significant responsibilities. Some of the most important of these arise upon the death of the person creating the trust - called the trustor or settlor.In many cases the trustor acted as a trustee during his or her lifetime, with a...

Probate in California is unfortunately an expensive and time-consuming process. Probate refers to the court proceedings to administer the estate of a deceased person and distribute their assets to heirs and beneficiaries. Court costs and legal fees can be prohibitive....

Trusts are a popular estate planning vehicle in California. But trusts can be used for many purposes besides managing financial assets for the benefit of loved ones. In fact, California's Probate Code specifically says a trust can be established for any purpose that...

In this blog we have on several occasions discussed the advantages of a revocable trust for estate planning purposes in California. A revocable trust is what the name implies: it can be modified or terminated at any time during the settlor's lifetime. But what about...

The revocable trust is a popular estate planning vehicle in California. With a revocable trust an individual can avoid probate, protect the person's privacy, and provide for management of assets both during the person's lifetime and after death. To establish a trust,...

In California, the revocable trust is a popular estate planning vehicle, in part because it provides for management of trust assets by a trustee during the settlor's life and after their death. A trust will typically provide that income generated by the trust assets...

This California estate planning blog has discussed trusts in the past. Generally, a trust is a legal device that protects a property right for a person while that property is held by another individual. Though trusts can serve a wide range of intents and purposes,...

In last week's post we discussed what assets are included in one's estate under California law for estate planning - and estate tax - purposes. One of the assets we mentioned in that post is life insurance. If a person is the owner of a life insurance policy, the...